Jasper County Democrat, Volume 5, Number 35, Rensselaer, Jasper County, 6 December 1902 — COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMERCIAL AND FINANCIAL

UTZ ~ ~l Weather conditions have I OIL Provided the only impor--11 " tant developments of the last week in the business world. Excessive rains in some sections, notably the Southwest, facilitated distribution of heavy footwear, overshoes and kindred lines, while seasonably low temperature at other points increased the movement of winter wearing apparel. These influences, together with a large Thanksgiving trade in food products, stimulated retail dealings very materially. Jjobbing and wholesale trade is fully maintained, and manufacturing plants have orders far ahead, but in many cases the coke shortage retards operations. The foregoing is from the Weekly Trade Review of R. G. Dun & Co. It continues: Railway officiate are making every effort to relieve the freight congestion, especially in the vicinity of Pittsburg, but thus far there is little evidence of improvement. Gross earnings are fully maintained, for November thus' far exceeding last year’s by 6.3 per cent nnd those of 1900 by 16.4, while it is expected that higher freight rates will offset the advances in wages, sustaining net earnings. Inquiries for pig iron become more urgent as the scarcity grows more acute. Furnaces are added to the idle list when there is full occupation for every plant in the country, but the fuel shortage is not perceptibly improved. Coke commands high premiums, according to the needs of consumers, and iron is similarly held at an abnormal position by the insufficient supply. Even foreign pig iron has not arrived at specified dates, while new orders have been placed abroad covering distant deliveries. It is clear that domestic needs will continue to exceed available supplies’for many months to come. The pressure is less severe in the various finished lines, aside from structural steel and railway equipment. Many projected additions to mileage, improvements in terminals mid Increases in rolling stock insure activity at the shops for months to come. Machinery houses, boiler works and makers of heavy hardware are all far behind with orders, and practically every section of the iron and steel industry is entirely in control of sellers, prospective purchasers having to make all the concessions. Minor metals, on the other : hand, are generally weaker, tin being especially depressed. Silver bullion has I fallen to much the lowest price on record, ■ the intrinsic value of a silver dollar now ! being about 39 cents. Bradstreet’s Grain Figures. Bradstreet's weekly report says: Corn exports aggregate 255,174 bushels, against 243,381 last week, 630,9*58 1 last year and 4,801,000 in 1900. For the fiscal year exports are 2.707,337 bushels, against 19.153.817 last season and 74,681.5(51 in 1900. The week brought no CUICdQO. changes of great imporness outlook; The most favorable feature was the turn in the weather, which, coming just before the holiday season, ■eemed doubly seasonable. Merchants who had been complaining of dullness in lines of early winter merchandise, found trade somewhat improved. Holiday buy- : ing has begun, nnd the jobbers report ' orders containing a very satisfactory pro- ; portion of Christmas goods. The Northwest is doing a good bttsi- ' ness in all lines. The week brought the first authentic reports of damage to winter wheat by the Hessian fly, which had moderately stimulating effect upon prices, serving to hold the market steady. The ' local elevator companies have been tilde to take in wheat of late with the rosult that conditions here are slowly working back to normal. With an increase of 1,396.321 bushels this past week. Minneapolis houses are now carrying 7.664.995 bushels of wheat, of which 3,145.824 bushels is No. 1 northern. While this is i very light for Minneapolis stocks nt this , date, it is a gratifying showing compared I with that of a short time ago when there was scarcely a two weeks' milling supply of wheat in store.